El Eden Group

The Communal Bank “El Eden” consists of nine members who are beginning their sixth loan cycle. They are all hard workers who look for any opportunity to get ahead. Already, through their daily efforts, the members have been able to proviD. a better future for their children. They engage in different businesses selling vegetables, groceries, prepared foods, and candy. Others proviD. services such as motorcycle transport and tailoring.

Juana is the group president. She has been selling vegetables and spices at the market for a number of years. She is married and has two children, which is why she has to work. Her main objective is to improve her financial situation. Her loan will be used to buy products to help increase her earnings.

As the group treasurer, Juan has demonstrated responsibility within the Communal Bank and also with his family. He has worked as an electrician for 15 years, and his business helps to pay for his household expenses. At the moment, his business income is not enough. Since the school year has started, he and his wife have opened a bookstore to help improve their finances at home.

Candelaria is a group member who has been selling candy at home for the past year. This type of work is well-suited for someone who is a bit older. She also has the help of her four dependent children. They are proud of the fact that their work has helped them to move forward.

The members are grateful for this loan and promise to complete their payments on time.

Additional Information

About EDAPROSPO

EDAPROSPO seeks to use micro-credit to foster productive commercial activity for the sake of economic and social development within vulnerable urban and rural sectors traditionally neglected by commercial banks. By offering innovative products such as technical education loans and microfinance groups for young people, EDAPROSPO helps disadvantaged Peruvians lift themselves out of poverty.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.